Good governance and promoter penalty laws

Reliance on advice exception

The Commissioner cannot seek an application for a promoter penalty where the promoted scheme is based on treating a taxation law as applying in a way that agrees with either advice given to the entity (for example, in a Product Ruling), or a publication approved in writing by the Commissioner (for example, in a Taxation Ruling).

The exception does not apply to advice that is given by the Commissioner to someone other than the promoter or to a publication that relates to a materially different arrangement.

Sections within Key aspects of the law

• What are the promoter penalty laws?
• What is a tax exploitation scheme?
• Who is a promoter?
• Advice exclusion
• Reliance on advice exception
• The potential remedies
• Enforceable voluntary undertaking process
• Need further information on promoter penalty laws?
• Other laws, codes and regulations